The Global Liquid Biopsy Market at CAGR of 18.54% by 2028

Triton Market Research presents the Global Liquid Biopsy Market segmented by Biomarker Type (Extracellular Vesicles, Nucleic Acid, Cells, Protein), Therapeutic Application (Prostate Cancer, Melanoma Cancer, Non-Oncology Application, Lung Cancer, Colorectal Cancer, Breast Cancer, Other Types of Cancer), Product (Circulating Tumor Cells [CTCS], Extracellular Vesicles and Others, Circulating Tumor DNA [CTDNA], Cell-Free DNA [CFDNA]), Analysis Platform (PCR, NGS, Proteomics, Microarray, Other Analysis Platforms), Industry Verticals (Hospitals, Physicians' Office Laboratories, Clinical Diagnostic Laboratories), Clinical Application (Treatment Selection, Treatment Monitoring, Diagnosis and Screening, Prognosis and Reoccurrence Monitoring), Analysis Purpose (Therapy Guidance, Monitoring, Early Detection/Screening, Diagnosis), and Geography (North America, Latin America, Middle East and Africa, Asia-Pacific, Europe). The market report further discusses the Market Summary; Industry Outlook; Impact of COVID-19; Key Insights; Porter's Five Forces Model; Initiatives Pertaining to Liquid Biopsy; Legal, Policy, & Regulatory Framework; Market Attractiveness Index; Vendor Scorecard; Key Market Strategies; Drivers; Restraints; Opportunities; Competitive Landscape; Research Methodology & Scope; Global Market Size; Forecasts & Analysis (2021-2028).

Triton's report infers that the global liquid biopsy market is expected to register growth in revenue by 18.54% of CAGR during the phase of 2021-2028.

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Liquid biopsy refers to a non-invasive method that helps to ascertain and monitor cancer and other conditions. It is gaining traction as an alternative to tissue biopsy for application in reproductive health, cancer, and transplant medicine.
Factors such as advancements in technologies and growing demand for diagnostics centers generate new opportunities for the market over the estimated period. The ever-changing consumer demand has led to a shift in diagnostic testing from hospitals to diagnostics centers, closer to patients. This lowers the testing cost significantly. Hence, the rising demand for diagnostics centers can offer new opportunities to the liquid biopsy market over the forecast period.

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However, several restraints, such as lack of reimbursement for liquid biopsy, disadvantages associated with compensation, high cost of liquid biopsy test, and dearth of skilled professionals, are limiting the expansion of the liquid biopsy market.
The Asia-Pacific is estimated to attain the fastest growth rate in the liquid biopsy market over the considered phase 2021-2028. The countries in the region are heavily populated, such as China and India. Thus, the region holds the potential to offer a huge consumer base, boosting the growth of the studied market. Furthermore, the increase in healthcare expenditure, coupled with a rise in awareness pertaining to liquid biopsy, has positively impacted the liquid biopsy market in the region's nations.

The enterprises profiled in the liquid biopsy market include Becton Dickinson and Company (BD), Thermo Fisher Scientific Inc, Illumina Inc, Personal Genome Diagnostics, Bio-Rad Laboratories Inc, Agilent Technologies Inc, Adaptive Biotechnologies, Biocept Inc, Menarini-Silicon Biosystems, Foundation Medicine, Qiagen NV, Myriad Genetics Inc, Natera, F Hoffmann-La Roche, Guardant Health Inc, MDxHealth SA, Grail, and Angle Plc.

Several customers generally prefer to opt for popular products in the market, making it easy for them to switch from one product to another. This results in a high competition level among existing market players. Furthermore, numerous companies are specializing in several segments, leading in the market. For instance, Agilent Technologies specializes in segments such as life science research, food, and lab automation. Here, the growth in life science research has enabled the company to increase its market share.

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